Nigeria. FUG Pensions targets N500bn assets under management
Future Unity Glanvills Pensions Limited (FUG), said it is targeting assets base of N120 billion by 2019, and N500 billion over the next seven years for its medium term operation.
The firm’s current assets under management have grown from zero position in 2007, to over N57 billion in 2017.
This was disclosed by the Managing Director and Chief Executive Officer, Usman Suleiman, at the 10th year anniversary of the Company’s held in Lagos.
According to him, the Company has put in place both short, medium, and long term strategic plans that would see it grow its portfolio in Assets under Management to N120billion by 2019, and N500billion within the next seven years.
To drive its expansion programme, Suleiman added that the Management has commenced discussions with some pension funds administrators (PFAS), with a view to acquiring one to actualise the expansion plans.
He said further that the last 10 years of the firm’s operations were challenging given the fact that it came into the market as one of the late entrants.
He noted that with resilience, zeal, perseverance and hard work, coupled with the confidence and support of the Board and shareholders, FUG Pensions has risen to the occasion as one of the notable PFAs in the marketplace.
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